Entrepreneurs are problem solvers, they solve problems for people for profit. Entrepreneurship is the art of solving world problems for people for profit.
This is a follow up from my last post about How I Quit My First Job And Get Into Entrepreneurship.
Back in 2019, When I quit my job, I read classic entrepreneurship books. Watch a couple of famous entrepreneur interviews and listen to some podcasts. Back in '19 there wasn't an explosion of internet knowledge like now, I think that happens after the pandemic fueled by the lockdown. Now everything is more easy in knowledge wise that before.
After digesting the fundamentals, I understood what entrepreneurship was about. The money was a consequence of how well you impacted people, how valuable you are to the marketplace. So I tried focusing on the 'impact people' part and forget the money part but it didn't work that well.
The Journey
My first business was an ecommerce store, shopify was trending at that time and the business model was attractive. You setup a store front, source a good product with decent margins and promote it vial social media. My first bump was setting up the store, it was systems upon systems. Payment system, Shipping system, Marketing system etc. I decided to tackle them one at a time because I didn't have enough funds to outsource it. All system were set up except the payment system(the most important). Shopify payments was not available in where I live, nor was Stripe or PayPal business. I found 2checkout as the only available option, so I started the integration process and I was welcomed with a long form to fill.
It took a week for them to reply and the news was not good. I wasn't accepted and the reason mention was just vague, nothing precise. They said I didn't comply with their Terms & Condition which was a mini book of it's own. I decided to fail quickly and throw in the towel which led me to my first encounter at the entrepreneur graveyard.
After a month plus of rigorous working on the ecommerce business, the main puzzle (payment system) couldn't be solved. It was easy to just get a regular job and forget it, I've lost a month plus worth of salary and boy was it stressful.
I buried myself with more study, read more books, listen to more podcasts and watch many more guides and tutorials.
I got back on my feet and started another business, selling on eBay. With eBay everything was in-house, the payment system solved. No need for marketing, eBay had a large customer base. In the first month, I wasn't selling much, getting accustomed to the platform. I then starting picking up pace, making 4 figures per month with 30 to 40% profit margins.
By year end, I reached 5 figures. How ever the next year was a big surprise. eBay temporarily suspended my account on Week 2. By Week 6, I was permanently banned from the platform. The reason? nothing specific, just a policy violation.
I found myself at the entrepreneur graveyard again and this time, I did dig a hole ready to lie in it for good. From the top to the bottom, the crash itself was sudden and intense.
I stayed there for awhile, doing nothing serious. Living off my 5 figures income. I reflected and realised that their are bullies in the game and you can't do much against them. A mammoth always crushes an ant. I still can't figure how to fight this bullies other than been 99% Self-Reliant (Mathematically, nobody can be 100% self-reliant).
I got back on my feet and said goodbye to the entrepreneur graveyard. I had a destination to reach, a vision to fulfill and a purpose to see through. Entrepreneurship was the way to achieve it, It was sort of a Do Or Die thing. I had to reach at the top of the mountain.
Thank you for taking the time to read my blog.
Image Source: Unsplash & Phone Gallery.